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South Bend Redevelopment Commission <br />Regular Meeting - January 21, 2000 <br />6. NEW BUSINESS (CONT.) <br />a. continued... <br />Using the estimated project cost of <br />$76,500 per home, taxes generated over <br />the five -year period will be $10,586.79, <br />per home. Taxes abated over the five -year <br />period will be approximately $7,418.48, <br />per home. Taxes still paid with the <br />abatement over the five -year period will be <br />approximately $3,168.31, per home. <br />Mrs. Kolata noted for the record that Jon <br />Hunt, Director of Community and <br />Economic Development, serves on <br />American Home Dreams' board of <br />directors. She also noted that American <br />Home Dreams is a not - for - profit <br />corporation, and Jon Hunt receives no <br />compensation from American Home <br />Dreams. <br />Upon a motion by Mr. Donoho, seconded <br />by Ms. Jones and unanimously carried, the <br />Commission adopted Resolution No. 1734 <br />approving an application for real property <br />tax deduction for properties at 702, 703 <br />and 732 Pennsylvania in the Sample - <br />Ewing Development Area. (American <br />Home Dreams, Inc.) <br />-5- <br />COMMISSION ADOPTED RESOLUTION NO. 1734 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTIES AT <br />702,703 AND 732 PENNSYLVANIA IN THE SAMPLE - <br />EWING DEVELOPMENT AREA (AMERICAN HOME <br />DREAMS, INC.) <br />